Merit Financial Group LLC Sells 1,526 Shares of American Superconductor Co. (NASDAQ:AMSC)

Merit Financial Group LLC trimmed its position in shares of American Superconductor Co. (NASDAQ:AMSC) by 2.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 51,942 shares of the technology company’s stock after selling 1,526 shares during the quarter. Merit Financial Group LLC’s holdings in American Superconductor were worth $1,279,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AMSC. Campbell Newman Asset Management Inc. purchased a new stake in American Superconductor in the 4th quarter valued at about $1,483,000. Range Financial Group LLC purchased a new stake in American Superconductor in the 4th quarter valued at about $1,035,000. Franklin Resources Inc. purchased a new stake in American Superconductor in the 3rd quarter valued at about $781,000. Barclays PLC boosted its position in American Superconductor by 376.2% in the 3rd quarter. Barclays PLC now owns 58,328 shares of the technology company’s stock valued at $1,377,000 after buying an additional 46,080 shares during the period. Finally, Geode Capital Management LLC boosted its position in American Superconductor by 4.5% in the 3rd quarter. Geode Capital Management LLC now owns 847,412 shares of the technology company’s stock valued at $20,003,000 after buying an additional 36,511 shares during the period. 52.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reissued a “buy” rating and issued a $29.00 price objective on shares of American Superconductor in a research report on Monday, September 30th.

American Superconductor Stock Performance

Shares of AMSC opened at $27.81 on Tuesday. The company has a 50 day moving average price of $29.25 and a 200-day moving average price of $25.53. American Superconductor Co. has a fifty-two week low of $9.37 and a fifty-two week high of $38.02. The stock has a market capitalization of $1.10 billion, a PE ratio of -556.09 and a beta of 2.28.

American Superconductor Company Profile

American Superconductor Corporation, together with its subsidiaries, provides megawatt-scale power resiliency solutions worldwide. The company operates through Grid and Wind segments. The Grid segment offers products and services that enable electric utilities, industrial facilities, and renewable energy project developers to connect, transmit, and distribute power under the Gridtec Solutions brand.